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Resource Clips

Posts tagged ‘congo’

Banro reports updated Congo Gold Resource

December 23rd, 2011

Resource Clips - essential news on junior gold mining and junior silver miningBanro Corporation TSX:BAA announced an updated NI 43-101 resource estimate for its Namoya project, located on the Twangiza-Namoya gold belt in Congo. Namoya now has measured and indicated resources of 1.58 million ounces gold and inferred resources of 443,000 ounces. This represents a 39% increase to the project’s resources since the last estimate, released January 2011.

CEO Simon Village commented, “A 39% increase in Namoya’s measured and indicated mineral resource signifies tremendous momentum in Banro’s drive towards increasing its future production profile. This increase in both size and confidence of the mineral resource represents a larger overall resource than we had originally envisioned for Namoya. We expect these newly-defined resources to generate an increase in the life of mine operations and total gold recovered from the Namoya project. Indications are strong that the Namoya ore body is open at depth. Next year’s program will focus on increasing the resources further through extension drilling.”

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by Ted Niles